Coinbase’s Layer-2 Blockchain Records 136,000 DAU Post Public Debut

• Dune Analytics recorded more than 136,000 daily users, the highest daily figure to date.
• Coinbase launched Base to the general public on Wednesday at 12 p.m. ET.

The number of daily active users on Coinbase’s layer 2 blockchain has surpassed 100,000 only one day after the network’s formal debut. On August 10, the day after its public debut, Dune Analytics recorded more than 136,000 daily users, the highest daily figure to date.

Base has been available for developers to try out for some time, but Coinbase launched it to the general public on Wednesday at 12 p.m. ET. On July 31, more than 60,000 people logged in for the first time, but on August 10, approximately 42,000 users were new to Base.

CryptoRank, a website for analyzing the cryptocurrency industry, stated on August 10 through a Twitter post that Base is now ranked fourth in daily transactions per second among layer 2 solutions, behind zkSync Era, Arbitrum, and Optimism.

New Revenue Source

On February 23rd, the exchange released the beta version of Base. Many in the cryptocurrency world immediately hypothesized that Coinbase’s massive user base would make the platform a useful tool for bringing new users into the Web3 protocol ecosystem. The network’s mainnet version was released “for builders” on July 13, but the developers cautioned that it wasn’t ready for users just yet.

At the moment, users of Base can do things like create an Ether-to-Base bridge, engage with a DEX, make payments via a web app, sign up for a “.base” username, and create a DAO. The exchange may now earn revenue from its own blockchain and, perhaps, from apps created on top of it, thus diversifying its potential revenue streams.

Highlighted Crypto News Today:

India Forays Into Web3 With IWBDC Competition Launch